The tax rate in the US gets pretty close to 50% when all the municipalities take their cut. If you're in Silicon Valley, most devs are going to be paying a 41%-44% tax rate just from federal and California income tax. Then you've got any local taxes, land taxes, etc that add onto that
Self employed consultants are pushed into private healthcare, which will ruin you when you retire (you have to keep paying >>$1000 per month until you die).